Announcements about new distribution channels are almost always positive news for brewing companies and hence, it is likely that the 1812 Brewing Company Inc (OTCMKTS:KEGS) is going to come into focus among investors today.
Trading Data
On Tuesday, KEGS stock ended flat at $0.0006 with more than 75.02 million shares, compared to its average volume of 50.25 million shares. The stock moved within a range of $0.0005 – 0.0007 after opening trade at $0.0007.
U.S. Distributor Interest in 1812 Brewing Company Soars After Company Wins U.S. Gold Medal in 2022 World Beer Awards
The company announced yesterday that it was locked in talks with networks of beer distributors and if the deals come to fruition, then the combined reach of those networks would span across 12 northeastern states. Those states boast of an aggregate population of 70 million and it goes without saying that it could help 1812 Brewing Company in boosting its sales considerably.
In this regard, the 1812 Brewing Company also provided data that it had collected. It was revealed that beer consumers in those 12 states consumed as much as 1.5 gallons of beer on a yearly basis. That makes up a considerable percentage of the entire United States beer sales of $94.1 billion in 2021.
Tom Scozzafava, who is the Chief Executive Officer of 1812 Brewing Company, spoke about the fact that the gold medal won by the company at the World Beer Awards for the Amber Ale category had also been responsible for making the company a prominent player in the beer industry.
Key Quote
Chairman and CEO, Tom Scozzafava, stated, “Undoubtedly the fact the Company was recently awarded the Gold Medal in the Amber Ale category for the United States in the prestigious World Beer Awards led to a more prominent profile for 1812 Brewing Company within the industry.” Mr. Scozzafava continued, “Combined with the fact that amber is one of the most consumed and easily drinkable “craft” beers, the fact that distributors are interested in getting War of 1812 Amber Ale in their respective brand portfolios makes sense. Said another way: amber beers sell well in general, and ours is one of the best in the entire country.”
Technical Data
KEGS stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0007 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0029. The company has a total market capitalization of $2.24 million.
